The Source for Cyber Insurance News, Insights and Data
The hack of British retailer Marks & Spencer could reduce its profits over the coming year by £300m (more than $400 million), according to its recent report of financial results for the London Stock Exchange. This impact substantially exceeds the initial $133 million cyber insurance claim the company is expected to file. Marks & Spencer … Read more
British retailer M&S (Marks and Spencer) is expected to make a cyber insurance claim of around £100 million (app. $133 million) following a hack that forced the company to stop taking onine orders and also exposed customer data, the Financial Times (FT) and other media sources report (paywall may apply.) Allianz & Beazley on Hook … Read more
A publisher of newspaper and digital news covering 72 markets in 25 states across the U.S., Lee Enterprises (NASDAQ: LEE) experienced a “cyber security incident” in February that had a “significant impact on our quarterly operating results,” including $2 million in expenses for “restoration costs,” according to a release from the company. The company has … Read more
We recently told you how a cyber insurance settlement of $30 million boosted Q1-2025 results for Sonic Automative, which was hit by the ransomware attack last year on CDK Global, provider of software for auto dealerships. Now two more of America’s largest auto dealers have made public filings touching on the hack and their actual … Read more
Sonic Automotive Inc., one of America’s largest car dealers, recently reported that its Q1-2025 net income reached $70.6 million, “up 68% year-over-year.” But that increase “includes the effect of a $30.0 million pre-tax gain” from a cyber insurance settlement, the company (NYSE:SAH) noted in an April 24th press release. Sonic had recognized another, related $10 million … Read more